Regulatory Alerts2012-04-03
Regulation on the Operation of Financial Leasing Companies (Notice No. 18/2012)
The National Bank of Angola issued Notice No. 18/2012 to regulate the establishment and operation of financial leasing companies, mandating a minimum fully paid-up share capital of Kz 50 million and detailing comprehensive authorization requirements, including shareholder identification, technical capacity verification, and a three-year business plan. The regulation stipulates that applicants must submit specified documentation to the Bank's Governor, undergo potential facility inspections, and ensure compliance with capital realization timelines of up to six months for amounts exceeding the statutory minimum. Furthermore, it grants leasing companies broad resource mobilization powers, including borrowing from domestic and international banks, issuing bonds and commercial paper, and conducting treasury operations within corporate groups.